Tax Reporting and Cost Basis Associate
The tax reporting and cost basis department is responsible for maintaining accurate cost basis figures in client accounts and is responsible for producing annual tax forms including IRS form 1099, 1042s, 5498, etc. The associate will provide support to financial advisors and their clients, assist in the production of tax forms as well as maintain cost basis and tax reporting information for the purpose of monthly statements, annual tax forms and other tax filings. This role involves data preparation, remitting backup withholding taxes to the IRS as well as developing business requirements on products and improving day to day processes all while providing an exceptional client experience.
What you are good at:
- Organization and Time Management: Possessing the ability to take on multiple requests at once and effectively complete tasks in a time efficient manner.
- Initiative: Proactively identify opportunities to enhance operational processes.
- Client Service: Meeting and exceeding customer expectations by providing timely and attentive responses to client requests.
- Team-Oriented: Collaborating with team members and other departments across the organization.
- Conduct analysis on client accounts and transactional data to ensure accuracy of cost basis and reportable tax information.
- Support Financial Advisors and Private Client Assistants to help deliver a high level of client experience.
- Assist with special ad-hoc projects and initiatives.
- Maintain on-going data processes and cost basis updates.
- Produce Estate Valuations for clients’ assets using pricing software.
- Assist in researching and implementing system updates for corporate actions such as Mergers, Spin-Off Distributions, Exchange Offers, and Bankruptcies.
- Reconcile large amounts of data
- Audit Federal Tax Withholding for clients’ retail accounts to confirm accuracy.
- Validate tax information on annual tax forms being reported to the IRS.
- Review issues from external business partners and determine appropriate course of actions to find solutions.
- Reconcile tax form data, validate exceptions and work with external vendors.
- High degree of accuracy and attention to detail
- Strong Excel skills
- Highly motivated self-starter and creative problem solver
- Strong communication skills and a proven ability to develop effective relationships with external and internal business partners
- Experience using Microsoft SQL, Thomson Beta a plus
- Proficient with all Microsoft Office applications and internal database systems
- An effective team player that works well under pressure and interacts appropriately with others
- Bachelor’s degree preferred or equivalent experience in Finance, Accounting or Economics with IT-related background a plus
- 1+ year(s) experience working in the financial services industry with an emphasis on retirement and retail tax reporting preferred
- Series 7 (or ability to obtain within 12 months) preferred
- This role will be hybrid, the individual will work approximately three days per week in the Philadelphia office.
Why work for us?
Benefits: Janney believes that its employees are the key to what makes a great company. Although work makes up a large portion of an employee’s life, we believe that a balance between work and non-work activities is essential to maintain quality performance and a positive work atmosphere. We offer a competitive package including Paid Paternal Leave, generous Paid Time Off, eligibility for a $2,000 referral bonus and Professional Development Assistance Plan designed to help you make the most of your life at work and at home—today and in the future. Explore further.
Janney is an award-winning full-service financial services firm committed to understanding our clients' needs and providing advice beyond investments. We are equally committed to building a diverse workforce and inclusive culture where employees can use their talents to thrive and grow professionally with the firm.
Fostering a positive workplace experience remains a top priority. We’ve earned the Great Place to Work® certification, which recognizes employers that create an outstanding employee experience. Based entirely on what current employees say about their experience working at Janney, this prestigious recognition underscores our commitment to our people and culture.
People are our strongest asset. We recognize that when our team members thrive, our firm is more successful.
- Pay Type Hourly
- Janney Montgomery Scott LLC, 1717 Arch Street, Philadelphia, Pennsylvania, United States of America